246-248 Walworth Road, London, SE17 1JE
Size
4,051
Tenure
Freehold
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Parking
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- Primary use
- High street retail
- Frontage
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No floor / site plan
Key features
- Prominently situated on Walworth Road, with close proximity to both Elephant & Castle station (0.5 miles) and Kennington (0.6 miles).
- The property comprises of a double fronted ground and basement commercial unit, as well as 6 residential apartments of which 3 are sold off on long leases with 2 with circa. 60 years remaining.
- The property is fully let producing a current passing rent of £107,280 per annum.
- The commercial unit is let to Lynne Radio Limited who have been trading since 1970’s, for £45,000 per annum with an outstanding rent review 25/03/25 with notice being served at £59,500 per annum.
- The freehold comes with the benefit of long leaseholds of 3 residential flats in 246 Walworth Road. The leaseholds have expired terms ranging between 59 and 150 years remaining.
- Guide Price - £1,400,000 (One Million Four Hundred Thousand Pounds) subject to contract. Which reflects a 7.66% Gross Yield and a low Capital Value of £346.
Description
The property comprises of a commercial unit occupying the ground and basement (Lynne Radio Limited) where there is an outstanding rent review 25/03/25 with notice being served at £59,000, 3 x 2-Bedroom flats arranged over first second and third as well as three flats sold off on long leases on the first second and third floors of 246 Walworth Road.
Location
The property occupies a prominent position within a South London High Street. 246-248 Walworth Road sits within Zone 2 benefiting from exceptional transport links to both Elephant & Castle Station which has access to the Bakerloo, Northern Lines and the Overground, with Kennington also within walking distance with access to the Northern Line.
The surrounding area has undergone significant regeneration in
recent years, driven by substantial investment in Elephant & Castle
and the wider Southwark borough. The location benefits from a vibrant mix of retail, leisure and dining amenities, together with excellent educational and cultural institutions, all of which continue to support strong occupier demand. The property also benefits from its position directly opposite East Street Market, a historic South London market which has traded for over a century and continues to trade daily.
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- Use class
- E
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Brochure
246-248 Walworth Road, London, SE17 1JE
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Disclaimer - Property reference 405127-1. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Robert Irving Burns Limited , Robert Irving Burns. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.